"I transfer my salary every month—so why is the interest rate like this?" Salaried workers denied loan-rate discounts

[Financial News] Consumers who automatically transfer their salary every month to receive a loan interest-rate discount but fail to receive the benefit should check whether the account is marked "salary" and whether their salary information has been properly registered.
The Financial Supervisory Service said on the 21st that it had outlined issues consumers should be aware of based on major complaints recently received.
According to the Financial Supervisory Service, borrowers must register their salary information in their bank app when applying online to qualify for a salary-transfer benefit under a loan interest-rate discount program. Even when transferring salary-related funds, they must indicate that the money is salary-related by using labels such as "salary" or "monthly salary."
The Financial Supervisory Service also stressed that borrowers must notify their lending bank if they change jobs, even if their salary is deposited into the same account. Because the detailed requirements vary by bank, borrowers should check with their respective institutions.
The Financial Supervisory Service advised borrowers to choose a loan repayment method based on their financial situation and asset-building plans. It also warned that delinquency on household loans could result in the loss of the benefit of time. A borrower loses this benefit after failing to pay interest on a household loan for one month—or two months for a mortgage—or after missing monthly installment payments for two consecutive payments, or three consecutive payments for a mortgage.
If the benefit of time is lost, the borrower must immediately repay the entire outstanding loan balance. When the original loan principal is 50 million won or more, overdue interest is charged on the entire outstanding balance. The bank must notify the borrower of this fact no later than seven business days before the date on which the benefit of time is lost.
The Financial Supervisory Service also warned that the interest rate on a variable-rate loan may be recalculated when the loan term is extended, depending on changes in the benchmark rate and spread. As a result, the rate may rise or fall from its original level. It explained that if a borrower's credit standing deteriorates when the loan term is extended, the bank may refuse the extension or require partial repayment, making regular credit management important.
[email protected] Kim Hee-sun Reporter